13:47:03 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Invesque Inc
Symbol IVQ
Shares Issued 54,113,731
Close 2019-08-21 U$ 6.40
Market Cap U$ 346,327,878
Recent Sedar Documents

Globe says Invesque downgraded to "speculative buy"

2019-08-22 07:46 ET - In the News

The Globe and Mail reports in its Thursday, Aug. 22, edition that Industrial Alliance Securities analyst Brad Sturges lowered his rating for Invesque to "speculative buy" from "strong buy" following a "noisy" second quarter. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sturges trimmed his share target to $7.25 from $7.50 (all figures U.S.). Analysts on average target the shares at $7.55. Mr. Sturges says in a note: "We do admit that Invesque's share price and recent earnings results have not lived up to our expectations. Furthermore, a near-term positive catalyst to materially narrow Invesque's discount valuation may be lacking given the company's recent decline in FD AFFO [fully diluted adjusted funds from operations] per share, and the company's above-average investments risks that include an elevated FD AFFO payout ratio, above average financial leverage employed, high geographic and operating tenant concentrations, perceived U.S. SNF sector operating challenges, foreign currency exposure, and low share liquidity. However, we continue to view Invesque's shares as undervalued relative to its U.S. seniors housing and SNF REIT/REOC peers, and to its estimated NAV."

© 2024 Canjex Publishing Ltd. All rights reserved.